2004 W 3rd St · Monahans, TX 79756

$168,000

4 bd · 3.0 ba · 1,361 sqft · SingleFamily public records · 3 Days on market

Built 1950 0.92 ac lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

With a little TLC this diamond in the rough will be a beautiful home! Main home has potentially 3 bedrooms with the mother-in-law connected has a full kitchen bath and one bedroom. Well on the property is for the yard and the home has Coop water.

Key facts

• 0.92 acre lot
• Garage
• Built 1950

Property features AI

Exterior

• Parking: 3 total parking spaces; 3 covered parking spaces; Detached garage; 1-car garage; Carport
• Security: Smoke detector(s)
• Utilities: Well water; Septic tank; Propane
• Home design: Single-family residence; Residential property; Composition roof
• Construction: Block construction; Slab foundation; Composition roof; Built with solar generation
• Exterior features: Patio; Landscaped lot; Paved road access; Storage structure

Interior

• Kitchen: Electric range; Refrigerator; Gas water heater
• Flooring: Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Electric heating; Natural gas heating; Central air conditioning; Electric cooling; Window unit(s)
• Interior features: In-law floorplan; Wood-burning fireplace; Smoke detector(s); Thermostat
• Laundry & utility: Washer hookup; Dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).

Location & tenants

• Location reads 65/100 on livability (#687 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Monahans-Wickett-Pyote ISD (town): math 33% / reading 34% proficiency, ranked #532 of 826 in TX (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Monahans H S (math 32% / reading 37%, grade F, #963 of 1,632 statewide, top 61%, 609 students, 48% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 54 active listings in the ZIP; 7 units permitted in Ward County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Ward County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,433
• Equity at exit: $25,049

10-year hold

• IRR: 10.4%
• Equity multiple: 1.81×
• Total profit: $38,050
• Equity at exit: $14,526

Cash invested: $47,040 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 79756

• Active inventory: 54
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,909 medium
• Mortgage (P&I): −$881
• Tax from tax record: −$107 /mo · $1,278/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $450

Break-even live

Break-even rent $1,339

Max offer price $168,000

Occupancy floor 71%

Sensitivity live

Price	-10% $546	-5% $498	+0% $450	+5% $403	+10% $355
Rent	-10% $300	-5% $375	+0% $450	+5% $526	+10% $601
Rate	-1.0pp $535	-0.5pp $493	base $450	+0.5pp $407	+1.0pp $363

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $168,000 Active 3 DOM
2. 2026-06-18
   remarks 246-char remark
3. 2026-06-18
   listed $168,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $1,278 · $107/mo
• Projected year-2 tax: $3,074 · $256/mo
• Expected delta: +$1,796/yr (+$150/mo · 140.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,907
• − Mortgage interest: −$9,411
• − Property taxes: −$1,278
• − Insurance: −$840
• − Repairs & maintenance: −$1,833
• − Management: −$1,833
• − Depreciation: −$4,887
• Taxable income: $2,825
• Est. tax owed @ 24.0%: −$678
• After-tax cash flow: $4,728/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Monahans-Wickett-Pyote ISD
• NCES district ID: 4831170
• Math proficiency: 33% ▲ 3.00%
• Reading proficiency: 34% ▲ 7.00%
• Median HH income: $50,117
• Composite: 29.12/100
• National rank: #6592
• State rank: #532 of 826 in TX

Livability — Monahans

• Score: 65/100
• State rank: #687
• US rank: #12856

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment B Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monahans, TX
• Population (ZIP): 9,558

Population outlook (Ward County) Hauer SSP2

• Today (2025): 14,048 people
• By 2030: 15,329 · +9.1%
• By 2040: 18,112 · +28.9%
• By 2050: 21,301 · +51.6%
• By 2075: 29,199 · +107.9%
• By 2100: 33,968 · +141.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 54% White 39% Two or more races 11% Black 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 48%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 63% English-only · Spanish 35% Chinese 2%

Political lean MEDSL · Ward

• 2024 margin: Solid R (+66.1) · D 16.7% · R 82.8%
• 2008→2024 swing: -17.0pp toward R · 2008: -49.1pp · 2024: -66.1pp
• All cycles: 2024: R+66.1 2020: R+61.0 2016: R+51.6 2012: R+47.2 2008: R+49.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -167.06%
• Current HPI: 194.6219
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

1 event — show timeline

• 2026-06-17 Listed $168,000 ODMLS

Property tax history

+7.6%/yr

Latest (2025): $1,278 · +12.4% YoY. Source: county tax records.